NSE: Stock market gains amidst lower trade volume

The Nigerian equity market recorded a modest gain on Monday amid a lower trade volume compared to last week’s session.

Trade ended with a negative market breath as 14 losers emerged against 8 gainers.

The All Share Index (ASI) inched up by 0.07% to close at 22,616.28 basis points. Equally, the market capitalisation climbed up by N8.809 billion to N11.787 trillion at the end of today’s trade. Year to date, the index is down by 15.74%.

Bargain-hunting in blue chip stocks including MTNN, GTB, Union Bank, Zenith Bank and Oando caused Monday trade to end in the positive territory.

The Banking Index added 1.12% to close at 264.48 basis points while the Oil and Gas Index appreciated by 0.39% to close at 206.44 basis points. Other sector indices closed lower.

Lasaco led gainers today, growing by 8.33% to close at N0.26. Chams rose by 4.76% to close at N0.22. Oando went up by 3.91% to N2.39. GTB leapt to N20, notching up 3.63% in the process. Zenith completed the top 5, climbing up by 1.07% to N14.20.

Nigerian Breweries topped the losers’ table today, declining by 10% to close at N31.05. SAHCO shrank by 6.58% to end the day at N1.42. Transcorp fell to N0.70, losing 5.41%. Royal Exchange Insurance tumbled to N0.20, going down by 4.76%. Aiico Insurance slumped to N0.80, recording 3.61% loss.

Investors staked N1.333 billion on 108.121 million shares in 3,354 transactions today.

Lasaco was the most preferred stocks today with 13.543 million units of its stocks worth N3.521 million traded in 10 deals. 11.754 million units of GTB shares priced at N228.922 million exchanged hands in 455 transactions. UBA had 11.015 million shares valued at N64.993 million traded in 154 deals.

FBN Holdings traded 7.426 million shares estimated at N32.196 million in 175 transactions. Access Bank traded 6.532 million shares valued at N40.877 million in 181 deals.